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economist. we're talking extraordinary weakness here, especially in the two most important economies, germany and france. >> yes. what we saw towards the beginning of the year, what we were hoping was we would see in the u.s. in the second quarter and maybe a third number. what these number res sharing, while we're seeing the rate of contraction to ease in the third quarter, around 4.6% declines. what we saw at the end of the quarter, regathering momentum and that puts the usa in a weak position heading into the second quarter. >> i was going to ask, too, the there's any way, these are sentiment surveys. these are not going on out and measuring production. what it does, it oles the companies themselves, asks them about data. pretty reliable whether it's the u.s. version of these or the global ones with tracking equity prices. and the point here is, this is the first reading of sentiment in march. yet it doesn't seem as though this was necessarily nud by the latest out of cypress. this would have all fallen before this happened. >> yeah. it's asking for hard information whether it is
cyprus get to this point? >> it is a small country. its economy is based on three things. tourism, a very pleasant place for people to go. shipping, as befits an island. above all, what is euphemistically called finance. in the 1990's and early in this century, what the banks in cyprus did was offer themselves around the world as a wonderful place to come and make a deposit. we will convert whatever currency you have into euros, which is a very good currency to have. we will pay you an unusually high interest rate and ask no questions. this is often called good banking. they got a lot of deposits. depending on the estimates you believe, the total deposits in the bank of cyprus or five to eight times larger than the total gdp of that economy, which is an absurd situation. and those banks in cyprus took all of those deposits and they did what banks are supposed to do, find prudent, safe, non- risky investments. like all the banks and the last 20 years, they failed. they found that investments. they did not to prudently. the banks fell apart. the whole cyprus economy, already impacted by thi
correction? with the rising economy and profits this rally still has legs. also in year three of obama care premiums and insurance costs are rising sky-high. so are taxes. and small business costs are reducing profits by as much as 65% according to one small business owner we will talk to tonight. and the virtues of a free market capitalism that we talk about every night on this show are now forbidden fruit at stanford university. a popular long running pro capitalist course at that school has now been cancelled. what is up with that? "the kudlow report" begins right now. >>> first up, a major vote in the cyprus parliament helping to get that country closer to a teal with the european union. michelle caruso-cabrera joins us from cyprus again this evening with the very latest. good evening, michelle. >> reporter: larry, lawmakers here in cyprus taking a huge step tonight to prevent the financial collapse of their country. they pass ad law that will allow for the restructuring of their banks. this essentially means their sickest and largest banks will be down sized and made more healthy. this
economy. its banks are not highly connected with the rest of the international financial system. there is no risk of contagion here. >> adam, actually, of all the ideas you laid out, which do you think is the least bad of all those solutions? is it going ahead and letting the banks fail? >> that would be my preferred route. failure implies that the banks can't pay their depositors. they are restructuring. they will be very orderly. basically, the banks would be closed for two days. what would come out is when they reopen, the depositors would be the large depositors because the small depositors would be fully protected. the large depositors would be the owners of a bank and they would have deposits of somewhere between 50 1k3 60 or 70% of their money and the rest of the shares in the new bank. the banks would be solvent. the banks could be highly capitalized and they would then have access to the ecb for refinancing to provide any liquidity. >> and the fallout from that would be that the russians -- >> and basically -- >> the fallout for that is that the russians are the ones wh
and the new fed forecast for the economy. and the stocks we're focused on this morning, blackberry getting an upgrade at morgan stanley and a note titled why it won't go down and it gets into the best buy bull camp, and calling it the best near-term idea in the sector. let's get straight to fedex. the package delivery company says it earned $1.23 a share in the fiscal third quarter and below wall street forecasts. fedex says the customers were choosing slower transit services. this does happen, of course, after a massive run in the transports. >> one of the things that amazes me about fedex is they keep missing and they get loved a few days later. missed and gets loved. it's still regarded as being a profit machine. they have this restructuring that people like very much. people feel it's only a matter of time before someone steps up to the more expensive freight. to me, my charitable trust owns ups. ups has the expectations lower. scott davis always says negative things. >> melissa hit the nail on the head. the stock had a big run and the two guys were going head to head over what was in
tax will be cut to 20%, the lowest tax rate than any other economy in the world. in his one-hour speech, chancellor osborne announced measures aimed at assisting small business owners, first- time homebuyers, and british veterans. this is about an hour and 15 minutes. mr. deputy speaker, this is a budget for people who aspire to work hard and get on. it's a budget for people who realise there are no easy answers to problems built up over many years. just the painstaking work of putting right what went so badly wrong. and together with the british people we are, slowly but surely, fixing our country's economic problems. we've now cut the deficit not by a quarter, but by a third. we've helped business create not a million new jobs, but one and a quarter million new jobs. we've kept interest rates at record lows. but mr. deputy speaker, despite the progress we've made, there's much more to do. today, i'm going to level with people about the difficult economic circumstances we still face and the hard decisions required to deal with them. it is taking longer than anyone
in macau's economy. 2013 will look good. melco crown and boyd gaming also a standout. "after the bell" starts right now. david: so here's question, when is it tir moyle actually good for the markets and the economy? well, when it is overseas. renowned professor jeremy siegel telling us why the european crisis could be a win for the u.s. and send the markets soaring to 16,000. liz: protesters are a win for us. we'll fund out more from dr. siegel. we know the feeling standing on the corner waiting for the taxis and being surprised how much that meter ran up while you sat there in the car with traffic. a new company hopes to make that aggravation go away by making taxis obsolete. ceo of sidecar is joining us. david: want to hear about that story coming up. we'll tell you what drove today's markets with today's data download. it is a down day on wall street as investors worry what is next for the eurozone. stocks gave up gains on all three major indices, ending the trading day low. industrials and materials led the decline. well the euro extending its losses against the dollar falling mor
insolvent. the banks in cyprus are huge, eight times the size of the economy. consider that here in the united states. our banking system is roughly one-time the size of our economy. what we're waiting to see next are they going to get this through parliament and get it done? it is so controversial they're trying to find out different ways to make it less controversial. impose the tax on larger shareholders to a much greater degree. it was originally 9.9% and you go to 12%. if you didn't want to tax the small guys at all you'd have to go to 15% or 16%. this is the scene when the president walked into the palace headquarters. there were people there with no written on their hand and this says merkel stole our money. keep in mind, european union will still give them 10 billion euros and they were trying to come up to reduce the original size from 17 billion euros. the other thing to keep in mind, by taxing depositors they're taxing a lot of foreigners and a lot of russians who had kept their money. the thing is will the rest of europe, will small depositors across the rest of europ
and howard ward. >> economy is getting better, capital chase returns and stocks continue to trend higher although there's profit taking here and there. >> okay. we'll take that to the bank. the key question about europe. it's all about credit quality. >> who do we have to worry about? >> spanish, italian and greece. >> you're very worried. >> people have to start doing their work. europe never did the work of fixing bank solvency in the first place. >> gentlemen, thank you for being here. >> happy monday. >> that does it for us today. make sure you join us tomorrow. right now it's time for "squawk on the street." ♪ ♪ ♪ ♪ >>> welcome to the last week of the first quarter. good morning. welcome to "squawk on the street." i'm carl quintanilla with melissa lee and jim kraker. futures reflecting the relief of the cyprus deal. a similar picture in europe where the italian tenure is now below where it was before those italian elections and a mixed picture in asia this morning. the nikkei up about 1.5%. the road map begin with the eurozone that did not collapse over the weekend so natura
blames israel. >> they want to control gaza, the people, the economy, they want to control everything. >> welcome to the great palestinian divide. ramallah is hardly boomtown but a galaxy apart from gaza. the market is busy. coffee shops are packed. and nine different arab banks compete for customers at this ramallah mall. stan helped build the mall. he says better than gaza isn't good enough. and, again, he blames israel. >> israel now has the leisure to be able to pick and choose how much restrictions it puts on the various palestinian areas, but that doesn't mean that ramallah is not under military occupation. we are very much in a cage. and around this cage is either israeli settlements or military checkpoints. >> he lives here but raised in youngstown, ohio. an american citizen who voted twice for president obama but believes visiting israel and ramallah now is a big mistake. >> coming and going without bringing any kind of political movement is em boldening israel and imboldening israel with this right wing government means more settlement means more collapse for the palestinian
economy. melissa: absolutely. what kind of reaction have you gotten from this resolution? >> i think very positive. members on both sides of the aisle understand that our savers and investors ought to have some insurance and reassurance in this area. so i think there's a good chance we can actually get this through? melissa: congressman, thanks so much for coming on tonight. we certainly appreciate your time. >> thank you. melissa: now to alarming new developments. bankers in the european union,. e.u. is about to officially pass a new law that caps bonuses for their bankers at their salary amounts. it still needs final approval from the parliament and finance ministers but already gained firm approval from the e.u. states and part of the parliament. of course the concern is whether this law could gain traction and make the jump across the pond and hit bankers here in the u.s. that would certainly have a huge impact on industry as a whole. here to give insight is our very own charles payne. i mean, it is classic. >> it's classic. you talk about thing in cyprus. this certainly will jump ove
to see to tame these large banks and give us a stable financial system that supports the real economy, not just trading profits of a large financial institution. >> were you surprised by anything you heard at those hearings? >> i was. i viewed i, like a lot of peopl jpmorgan chase as a free will managed bank. i was surprised at them to build these huge positions and even when he started calling foul, the next level of management above him really didn't get on top of it. i was not surprised by appalled by the way they were manipulating their models that are supposed to be able to determine how much risk is involved in various trading positions. >> what advantage did they gain from manipulating those positions? >> well, there were a couple things going on. one was it was clear they were trying to boost their regulatory capital ratios in anticipation of new capital rules coming into effect. this is a key defect with the way regulators bank. regulators view capital adequacy at these large banks. they left those capital ratios to be determined in part by the risk models of the banks. the b
and the austerity he is putting in place has caused the economy to be really slow. >> a lot of tax increases over there in europe. we look at this austerity bit. i want to talk about this for a second. >> i want to get back to the budget then. >> talk about what is happening in washington. you know, economics discussed on tv or on the internet or on twitter, it's so depressing, because people really don't know what they are talking about and they just sort of boil it down and there is this belief through the years, that tax cuts are not a tool used. of course, tax cuts are a tool used and tax increases something that traditional are against in bad times. we hear about austerity across great britain and we never hear about the tax increases. when you talk about the fact they cut and slash spending at the same time they hike taxes, it really was a formula made to fail. >> spending cuts and tax increases both take money out of the economy and slow the economy and, yes, they create this idea of austerity. but, look. it's a balancing problem. on the one hand you need to deal with it budgets and defici
is normal banking business. there is enough money to keep the economy moving forward, but these are very, very difficult days. tomorrow, the banks will be closed again, and quite possibly on friday, too. >> thank you. we are bringing you all of the latest developments from cyprus as they search for a solution there. police have searched the home of kristie in the guard. ofkhristine lasard, the head the international monetary fund. the operator of japan pose the damaged nuclear power plant in fukushima said iraq had been responsible for a loss of power this week. -- said a rat has been responsible for a loss of power this week. a dead rat was found near a switchboard. the company is investigating whether the raft was the cause. that it has killed a french national captured in mali in 2011. it claims it executed the man in retaliation for france's intervention in mali. the french foreign ministry said it is trying to verify those claims. the first test- tube baby was born in the u.k., the country could be leading the way again. this time it is a new idf procedure that creates a baby with t
and the republic of congo. he'll also attend a summit in south africa of five emerging economies known as brics. brazil, russia, india, china and south africa. >>> russia has turned down an appeal for aid by cyprus leaving banks on the island country in deep financial trouble. cyprus sent its finance minister michael air isous to moscow to seek help from russia. many wealthy companies and people keep their money in russia because of preferential tax treatment. two days of talks ended up without any agreement. bloomberg quotes saris as saying cyprus will continue to gain some kind of assistance from russia. he says there's still possibility to get conditions eased for the loans russia has extended in the past. >>> tensions are rising i >>> representatives from japan and the uk sponsored it. the three members of the commission will look into north korea's network of political prisons. japan's ambassador cited the abduction of korean nationals. >> japan strongly believes that a inquiry to investigate human rights will provide the council with con degree o-- concrete outcomes. >> the north korean a
of the economy that are not that strong and i don't know what the sequester will bring in the month of april. >> look, the data say things are better, and i think the fed will be under a lot of pressure because interest rates are headed higher. >> at some point the fed will have to acknowledge that -- and they have -- to your point, they changed the language a little bit. it's a moderate recovery and it's a strengthening recovery. words like that. >> right. >> at some point they're going to have to acknowledge what we all seem to know which is -- they're not great, but things are getting better. now will inflation pick up and that, of course, is the fed's number one mandate. will inflation pick up until we see jobs pick up because wage inflation comes with excess demand from workers. i don't know. that's the big trillion dollar question mark. >> commodity inflation whether it be corn or copper and the strong dollar will contain inflation that's going up a great deal. housing is stabilizing and not really in the numbers. i want to take issue with some of what you said. i think we all think th
live" starts right now. >> megyn: fox news alert how one country's economy is saved from the brink of collapse in an unprecedented move that experts say comes at a major cost for anyone who uses a bank. think your money is safe? welcome to "america live" everyone, i'm megyn kelly. a tiny little island nation of cyprus has decided today that it will fix its financial crisis by taking people's money. and that's the ultimate solution. they will seize 30-- no, make that 40% being of every bank account in which the person has over 100,000 euros, about 120 or 30,000. and that's your thanks for having money in the cypriot banks and now there are questions about the global cost of the rescue and people find new limits to the trust we put in banks. greg palkot live in cyprus outside the parliament there. greg? >> reporter: yeah, that's right, that's right, megyn. the folks here in cyprus are breathing a sigh of relief, their country is not going bankrupt, but the price paid could be high for the people here and around the world. and with the european union to cough up its share of the money
demand. moreover because of stronger growth in each economy. it has the beneficial spillovers to trading partners. there will be a test later. thank you. ashley: there are always two sides of the story. central banks have been doing it all around the world. tracy: i know. peter barnes will bring you the q&a session of bernanke's comments when they have been live. ashley: let's check these markets. nicole petallides at the nyse. you are also looking at some big tech names. nicole: i am keeping an eye on blackberry and yahoo!. down almost 3%. goldman sachs downgraded. it is not really up to par and not really doing that well. they are not seeing the sales that they had hoped. let's take a look at yahoo!. it is up one half of 1%. 23.25 a share. back to you. ashley: barely up, but it is up. thank you. tracy: boeing announcing its plan to conduct a 787 and flight today. the troubled dreamliner has been grounded since early january. we heard last week they would do a little test flight. ashley: hopefully no smoke. with the securities and exchange commission approving nasdaq's plan to pay out t
can be the linchpin in our economy over here. it's ridiculous. >> right. it should be a smaller problem. they could take care of this in other ways. they could print money or -- >> i'm not going to pick a state here. it would probably be a southern state, but a poor southern state cannot take the down the united states. >> a western state because they're not awake yet. but here we are. out of the 22 -- cyprus? >> you thought greece was small, cyprus is -- >> come on, cypriots? i remember some conflicts. i thought it was a golf course, which would be a much bigger problem to me. >> let's introduce our guest host this morning, kenny dichter, co-founder of avian. why do i always mispronounce it? because you've been b drinking it. >> avione is airplane in french and spanish. >> can we get a full shot of this? he's now the chairman of juicepress. i have been drinking this stuff for the past week, virtually, five days. >> and you know what? your skin tone has never looked better. >> no food up until this saturday. you've been doing this now -- >> 22 days. >> i've made my cleanse zero
. manufacturer are expected to relocate sites to newly emerging economies. they want to take advantage of lower costs. analysts say if the figure continues to drop, it will affect regional economies in japan as well as employment. >>> elderly japanese suffering from dementia could soon be using the latest technology to help them lead more fulfilling lives. the research institute of the national rehabilitation center for persons with disabilities organized an event to display their newest equipment. about 100 people attended, including family members and helpers who look after people with dementia. a pill case reminds users to take their medicine and even prevents accidental overdoses. the case is fitted with an alarm and dispenses the correct amount of medicine. researchers said 19 elderly people who forgot to take pills more than once a week tried using the case. after three months, 14 of them found it helpful. other equipment included a transmitter attached to purses or keys. when a remote control button is pushed the equipment emits a sound to help the user locate the eye tim. an electronic
just a continuation of the same slump that had been afflicting the british economy since the end of the first world war. so they saw a situation in which the fruits of science and progress were not benefiting science concern society as a whole, and they concluded that the rational organization of science and society was the only way to change that. the other important factor was that scientists had far more international context than almost any other segment of society at this time. and so far sooner than most were very aware of the terrible evils of nazi germany beginning with the persecution and dismissal of all jewish scientists from german universities in 1933. blackett himself was involved as many of these british and american scientists were during this period in finding positions for refugee jewish scientists from germany in universities in britain and america. but i think their politics was far less important than their or brilliance, their commitment and their true fearlessness. the scientists in britain and america who would be involved in this effort included no fewer
of a complex, global economy. it's just one reason over 75% of our mutual funds beat their 10-year lipper average. t. rowe price. invest with confidence. requesa prospectus or summary prospectus with investment information, risks, fees and expenses to read and consider carefully before investing. ...amelia... neil and buzz: for teaching us that you can't create the future... by clinging to the past. and with that: you're history. instead of looking behind... delta is looking beyond. 80 thousand of us investing billions... in everything from the best experiences below... to the finest comforts above. we're not simply saluting history... we're making it. >> at 22 minutes past the hour, i'm arthel neville with your fox news mine. italian president napolitano has reached out to the leader of italy's democratic party to try to form a new italian government. the eurozone's third largest economy has been politically deadlocked since no party won last month's general election. >>> president obama is in jordan, the final stop on his four-day visit to the middle east for talks with king abdullah wi
, there will have to be budget cuts behind the sequester. the sequester will not be the end of it, but the economy is recovering. i wouldn't say in spite of what the govern am hment has done. the economy is recovering of its own natural forces now. we've had 12 years of subpar growth. we've had 12 years of up and down with little net progress in the markets and people have forgotten what a strong economy and what a bull market -- a secular bull market looks like, and i think that's generally where we're headed for the next four years, so i'm predicting, as you said, 25,000 on the dow which implies a 15% compound rate of return for the next four years. >> john, can i just come back on the important points that you're making about europe. i'm not sure it's a question of what america trades with whom. it's a question of where the companies that are quoted on this market make their profits and in technology, for example, 40% of those profits are made in europe and therefore europe arguably is more significant than you might think on the trade argument having said that. this is a very interesting week
's remind otherwise of what we're talking about here. the cyprus economy is neither too big or too systemic to fail. fall is basically what the euro group has imposed on it. eats leaving it with almost no viable economy, certainly not to support the size of the economy it will grown to support. the trouble for cyprus being that they're going to have to take that pain and now the years ahead are going to be extremely difficult. we don't even know when banks are going to reopen. last night after those long negotiations when the cyprus manager left, julia stopped and asked him when people are going to be able to get their hands on their money. here is what he had to say. >> bearing that in mind, are the banks going to open on tuesday morning? >> i cannot say that. i cannot say that. it's always a mistake to say something like this when you are not completely sure. there is a lot 06 work to be done, but they will open very soon. >> and how long do you intend to use the capital controls for? >> that also i cannot answer. but, again, our objective to keep them as limited and is as short as possib
or the economy. this is something that will come up again with the debt ceiling fight this summer. but if you look at what the senate just passed, this is as christina said, they want to raise taxes. >> guys, let's switch to gun control here. christina, there's mention of the push for the gun control measures. a new gun control law was signed into law described as tough but does not ban semiautomatic assault weapons. here's the governor today. >> i get the feeling right now around assault weapons is that it's hard to define what assault weapons is, whether the ten-year ban, the federal ban made a difference. >> so colorado can't pass a ban on semiautomatic assault weapons. do you take that as a sign it's not going to pass in any state? >> well, it's really hard to know. every state is different. but there is a huge question here. lawmakers feel a lot of pressure from gun lobbyists, gun rights groups and this is why the effort is so interesting. he says he's going to spend $12 million to really look at senators that might be persuadable, particularly those with strong gun rights cultures in th
has shaken the world of tax havens and the multitrillion dollar economy of offshoring. cyprus, of course, a classic tax haven for the wealthy. russians invested more than $119 billion in cyprus in 2011 alone. they accounted for about a third of total dpos its. the new tax on deposits, let's call it what it is, a wealth tax, has americans worrying about other tax havens. more than $20 trillion held around the world in offshore havens. their favorite tax havens are in the caribbean. namely the cayman islands, bahamas, british virgin islands. globally the channel islands, monaco, switzerland and swing pore. caribbean countries in much better financial shape and more stable legal systems than cyprus. the capital structure of some of these offshore banks remains a mystery. governments in the tiny island nations are notoriously prone to corruption and sudden policy shift. many say cyprus isn't likely to repeat soon. the crisis is another reason offshoring may become more risky for the world's wealthy. >> thank you so much, robert frank. >>> i'll talk exclusively with john thain next
the porn industry. it's worth about a billion dollars overall to the economy, just in southern california. well we are on the subject of sex in addition to the so-called vice taxes, some states are actually putting -- imposing taxes. in illinois requiring the strip club operators to impose a $3 charge for their customers the tax is expected to raise a million dollars annually. texas has also got eight vice tax. it is a little different. a little bigger deal in texas. $5. they are getting just about ten times as much revenue as a state of illinois. nevada, the only state in the country to allow any form of prostitution to illegally. it does not collect the tax. but if it did it will reportedly earn nearly $150 million for the state in nevada. regardless of whether not you think the taxes are good or bad public policy, there is no denying that device is generating an enormous amount of what government seems to like most, revenue. the nra proposal to keep our kids safe in school is still the best solution. the "a-team" on where are the other lears. the billionaire mayor wants to ban guns
problem, because as the economy slows down, as long as the national recession lasts, it makes it harder and harder for municipal governments to balance their budget. > a lot of municipalities count on federal dollars that flow coming, and that is drying up too. so they are under stress. > > right. and that is why washington is important to everyone. it might seem like the sequestration is a problem in washington, but that money does come down to the states either through block grants or for transportation grants, and that money has to get squeezed out at the capital level, and it is going to be harder. the driver will be how long is the recession going to last, and how deep is it going to be? > if these cities you talked about and a couple of counties are basket cases, how are other cities that are having real stress problems dealing with it, because their big-budget item is what? employees. > > employees. right. so municipal government is a service enterprise, and when you have a service enterprise - police, fire, pave the roads, whatever it is - that implies employees, and when your l
. the world economy hit another speed bump today. once again they came from europe. this time in a good old fashion bank run. cbs news reporter on the tax plan that emptied out the atm's. >> there is growing anger. hundreds gathered in the streets to protest their bank accounts. they were trying to pull their money out. and that the banks will shut down at least until thursday as they are waiting for the banks to reopen. >> it is our time to draw all that money. we can't trust them anymore. yeah, it's sick. >> reporter: the secret administrators met on monday to discuss a plan. the government wants to take money from their citizens to help with the troubled financial system in the country. lawmakers are expected tvote on the package on tuesday. the proposal to take money directly from peoples accounts have never been done before. markets around the world fell up here in london, but opened up with a triple drop. >> it sort of goes with the primal fear of people that will protect their nest egg for the future. and that it will disappear. >> reporter: it is leading to their demonstrations acro
that at least portions of the economy will be saved. >> let's take you now to brussels and speak to al-jazeera's harry smith. the finance ministers are likely to discuss this possible deal on sunday in >> i must say it's interesting to hear what he had to say. word hasn't reached us yet. it may have reached the bureaucrats in the building behind us. the lights are still on and talks have been talk dunk taking place behind closed doorkss as jonah said. e know there's been a lot of conferencing and video conferencing between the troika, the -- and the last we heard was that there is still confirmation that meetings will take place here tomorrow, sunday, but meetings are scheduled and i think the fact that they were scheduled and scheduled some days in advance suggests that there was a degree of optimism even if there is no public display of optimism and there was a degree of optimism that some sort of deal would be made and we know it has to be made by monday. at's the date by which the european confirmation that meet will central banks' drip-drip of funding to cyprus would cease. so wha
. the entire economy of this city is based in gaming, 33,000 people work in the industry. here at the golden nugget atlantic city casino, they have a golden nugget. look at that. they have a hotel, cay casino, d marina in the heart of new jersey. hear from the general manager at the bottom of the hour, and i sit down with a blackjack dealer and learn for the first time how to play blackjack. i never played it in the casino before, and you'll never guess how i did. it's not just gambling, but the biggest trends in alcohol these days, bourbon, plus, tobacco, porn, reality tv, and how your smart phone is a vice. we have a sinful hour ahead capping it off with how you at home as an investor can make money on it all. first tonight, our top story. obamacare's latest surprise is a new fee to hit employers. douglas holtz-eakin, president of the and former cbo director. great to talk to you. i was shocked to hear about the fee, $63, nobody knew it was coming, $63 per eployee, so for a company like boeing, that's $10 million just for the fee alone. what is it for, and why didn't we hear about this bef
♪ ♪ (train horn) vo: wherever our trains go, the economy comes to life. norfolk southern. one line, infinite possibilities. >> it's an ipo. it's marin software. the ceo will be on the show later. what do they do? if you hire them, you're a company and they'll make sure that your profile on the internet pops up first when you do a google search. marin software just opened up 41%. now this. >> on what grounds do you-- >> because i predicted that you would not have filled out a ncaa bracket. connell: agree on that. imus: i he see in front of you-- >> what does a man know about basketball when he thinks that duke is going to win? you think that the plumly brothers, miles, mason and marshall would be my guy working for the louisville guys. and beat kansas in the final, 84-82? >> varney is reading this. connell: no he's not, no he's not. stuart: that was on imus yesterday and bracket picks. did you think i convinced anybody i know anything about basketball? >> no. stuart: i new about the plumly brothers and i went on to say i wish we could go back to the days of the fab five from michigan and tim
, an international launch industry that's far from robust. now, our economy depends on the ability to create and instantly distribute vast amounts of data around the planet. space-based platforms have become a vital link in the national and global economies, and they're essential to the prediction of weather, navigation in all forms of transportation, the operation of power grids, the completion of local and global financial transactions and communication to mobile platforms whether they be on land, sea or air. commercial satellite industry also plays a critical role in supporting government operations. commercial satellites supply the majority of communications in afghanistan and iraq. today our satellites are still flying almost all of the dod's unmanned aerial vehicles, and we're providing the vast majority of the navy's communications at sea. to address the challenges that i mentioned earlier, the leading space operation, operators have gotten together on a number of complex cooperative projects, probably the most significant of these is the space data association or sda. the formation o
and career change, fidelity is there for your personal economy, helping you readjust your retirement plan along the way. rethink how you're invested. and refocus as your career moves forward. wherever you are today, a fidelity ira has a wide range of investment choices to help you fine-tune your personal economy. call today and we'll make it easy to move that old 401(k) to a fidelity no-fee ira. because all these whole grains aren't healthy unless you actually eat them ♪ multigrain cheerios. also available in delicious peanut butter. healthy never tasted so sweet. >>> this morning, it's time to talk tech with mario's top three. today's digital lifestyle contributor, mario armstrong, has rounded up the biggest stories of the week in the world of gadgets, apps, and social media. mario, good morning. >> good morning. >> quickly show the socks. very socks. very cool. let's move on. march madness -- >> yes. >> -- you can't always sit in front of your tv. >> no. >> you want to check your bracket, you have great ways to do it. >> there's an app that's free, march madness live, so you can watch
a banking collapse that could impact other world economies. right now the european union chief is trying to get a last-minute deal together. >>> on tuesday and wednesday the u.s. supreme court will hold hearings on same-sex marriage challenges. proposition 8 and the defense of marriage act. people are already camping out mere the supreme court in washington to get in to the hearings. on thursday, we will find out which cars get a world car award. winner in power categories announced at the new york international auto show. shout-outs go to best all-around, best performance, green cars, and best design. that's going to do it for me. see you throughout the week p much more straight ahead with don lemon. >>> no golf for you. i want to you take a look at this. this is a pga course in orlando where tiger woods was leading before mother nature put the smackdown on it. the weather is severe in many parts of the country today. ridiculous storms here. blizzard there. live from snowy dayton, ohio in just a moment. speaking of tiger, if he wins tomorrow, he will be the new number one golfer in the
back to, would and strong economy. a second priority one coupled with economic growth. i think we can do both. make sure we have deficit reduction but don't cut too much too fast. >> dick durbin also optimistic they can move forward. as congress grapples with developing a budget it must deal with another problem that looms it has to pass a continued resolution before march 27th to avert a government shut down. heather, they go on break at the end of this week. we will see what happens. >> of course they do. they are always going on breakdown there. >>> it is time for your first degree weather update with ma r maria molina. >> maria is in the weather center tracking another storm. is that right? >> yes. a brand new storm impacting portions of the upper midwest today and we are expecting to see snow from the same system into the northeast as we height. we could be seeing significant accumulations especially across places in new england. want to start out with high temperatures. we are seeing wild disparities as far as the temperatures go. take a look at minneapolis. 30 degrees for the h
building. damaging his economy big time pressure on president obama at home all around the world to intervene in some way. carl levin saying saying there should be some kind of surgical air strike. maybe the president should help set up a no-fly zone around syria to pressure assad. the bottom line is the president at a news conference here yesterday said he feels like it's a situation where is he damned if he does, damned if he doesn't. take a listen. >> your question may be suggesting is why haven't we simply gone in militarily? and, you know, i think it's fair to say that the united states often finds itself in a situation where if it goes in militarily, then it's criticized for going in militarily. if it doesn't go in militarily, then people say why aren't you doing something militarily? >> now, there is also the situation i mentioned with the syrian refugees spilling into jordan here. the bottom line is that king abdullah noted that it is now so bad that there is one refugee camp here in jordan that is so large, it is now the fifth largest city in jordan. and he said that giv
to take for cyprus' economy to recover from this? >> very good question. that's what a lot of people were really worried about whether or not what's happening there could happen in other places. >> we saw in europe seizain was saying hang on this might have longer term implications and reigned back a bit. zain, thanks so much. zain asher there. >>> secretary of state john kerry dropping in to meet with president hamid karzai. announcement coming at a time of tension as you can imagine between president karzai and coalition forces and u.s. forces in afghanistan. >> those tensions escalated this month after a bomb blast in kabul that killed nine people, kerry and president karzai just wrapping up a news conference actually. we'll update you on any developments from that. >>> also in afghanistan today another sign that u.s. involvement there is now winding down. the united states handed over full control of a prison near bagram air base to afghan authority. >> the transfer announced a year ago was supposed to take place within six months, but tensions with president karzai and concerns about
subscribers and millions of other kinds of subscribers. is the u.s. economy growing at a faster clip than last year? are you worried about a slowdown? >> the big shock for us is that we were oblivious to those kinds of questions. 2008.hey housing stocpped our subscriber losses were bigger. we said, wow. we never really appreciated all of those homes in america quite the way we were fighting over the same pie. we are starting to see a little bit of hope in the housing business, which will be really great for those of us who want to instilall radix in your home. in your home. i think the biggest advertising recipient reaching the cable business locally and nbc universal and all the cable channels nationally and locally advertising business is very relevant. that was not the case two years ago. everyone feeling probably the same thing. a pretty good recovery. we all wish it was not as much as it was before, but clearly stable and steady as she goes. there is optimism we are growing. a sense of nervousness that week could go back down again. -- i think we are certainly we never slowed down. we spe
that it will stay the course, staying the course, of course, means pumping money into the american economy especially concerns about a possible bailout in cyprus flare up. summer won't come soon enough for twinkie lovers. you know who you are. a bankruptcy judge approving hostess' sale to two investment firms and bringing twinkies, ho-hoes and ding dongs back from the dead. the deal said to be worth $410 million. the new owners hope to have twinkies and its snack cake brethren back on your store shelves by summer so you can stop with the locked door in your office and your stash. you'll be able to replenish it soon. and think you can trust labels at the shopping mall? think again. some clothing labeled as being made with fake fur was actually made with real fur. neiman marcus resolve clothing and dr. j.'s dotcom are settling false marketing charges with the federal trade commission. the retailers will not pay any fines but do promise to label all their products correctly going forward or face penalties. imagine if you were going to buy a pair of flats for example, this was a brand-name sli
cable subscribers and others, based on what you see, is the u.s. economy growing at a faster clip than last year? what they did you get? >> the big shock for us, of be were oblivious to those kinds of questions in which many countries and housing stopped 2008 than subscriber losses were bigger. they said while. we never really appreciated for new homes in america the way we fight to over the same pie. greasy a little bit of hope but also post but the recipients between the cable business locally and nbc universal and cable channels nationally and locally. so now the advertising business is very relevant. and to greasy everyone feeling a the same thing. >> but with the, a sense of nervousness, we kid go down but like they said in tough times, take your risk. in good times it is easier for people to spend money. it was a tough decision to buy new and six in the middle of a recession but. >> now you are in control dealing with hollywood types what is more complicated? regulators in washington? [laughter] >> mass you can answer the question. [laughter] there is day but to be with the talen
policies every single day. >> reporter: cruz tells cnn the law will put the economy in critical condition. >> the economy is not growing and implementing obama care now raises a very real possibility we will push this nation into a recession. i'm trying to make the case -- >> reporter: you are saying the president's health care law will cause recession. it could very well. we've had more than 35 separate votes in the congress about that and we've always upheld the affordable care act. >> reporter: democrats argue republicans should just stop. noting the law has not only survived a challenge to the supreme court but also former presidential candidate mitt romney. >> i will repeal obama care. and i'll stop it in its tracks on day one. >> reporter: the gop budget that passed the republican controlled house also includes a repeal of obama care. congresswoman michele bachmann warned the health care law is a killer. >> let's repeal this failure before it literally kills women, kills children, kills senior citizens. let's not do that. >> but it seems it is the law that can't be killed almost lik
much money from our economy at gunpoint? we look at this socioeconomic issue and as it becomes worse, you are looking at a high correlation of rates. the interesting thing is we have to stop and frisk. mayor bloomberg, of course. we look throughout the world and we see all these places where people are fighting for their rights. we actually have a constitution that has historical precedents on like any country in the world. and we are at a point where as a that we haveafraid fought for these wonderful things and these politicians who, unfortunately, are very concerned about taking away our rights to keep us "safe." but they are not looking at the root cause. thank you -- excuse me -- i am try to get it all out without trying to waste too much of your show. i appreciate you guys allowing me to say it. well, thank you for what you do. i hope everyone else is paying attention to. the socioeconomic problems, no bankers in prison. hasow that the senate passed its budget, the house budget debate continues in the coming months leading to the next fiscal year. these issues will continue to p
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